REAL ESTATE

Global Baristas acquires Tully’s Coffee Shops

BY Michael Fickes

Seattle — TC Global (dba Tully’s Coffee Shops) has announced the completion of the sale of substantially all of its assets to Global Baristas, an investment group led by Patrick Dempsey. Global Baristas bought the assets in an auction in bankruptcy court last January. The company plans to continue to operate Tully’s Coffee Shops and to retain all of the employees.

Tully’s filed for protection under Chapter 11 of the U.S. Bankruptcy Code in October of last year, closing 19 unprofitable locations while relocating almost all of the employees affected by closures to other stores. Since the filing and store closures, same store sales have increased and profitability has improved.

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REAL ESTATE

CBL acquires two Sears anchor locations

BY Michael Fickes

Chattanooga, Tenn. — CBL & Associates Properties has announced the acquisition of two Sears locations, one at CBL’s Fayette Mall in Lexington, Ky., and the other at CoolSprings Galleria in Nashville. Sears will continue to operate in both locations until closing dates have been finalized.

“We have plans to redevelop and expand both buildings to create space for new high-end specialty stores and restaurants,” said Stephen Lebovitz, CBL’s president and CEO.

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Urban Outfitters to open ‘lifestyle center’ concept in New York

BY Marianne Wilson

New York — Urban Outfitters has signed a lease for 56,730 sq. ft. on three levels at W&H Properties’ 1333 Broadway site, where the retailer will create its innovative new “lifestyle center” concept with new features never before seen from the brand, according to Anthony Malkin, president of Malkin Holdings, which supervises the W&H Properties portfolio.

The retailer will take occupancy in September.

“This store will be a huge catalyst for this retail and office neighborhood extending north of Herald Square,” said Malkin. “The area has seen transformational changes over the past few years, as Broadway with its pedestrian arcades links Herald Square to Times Square, and Urban Outfitters will be a magnet for shoppers.”

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Jul-03-2013 11:52 am

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S.Jones says:
Jul-03-2013 11:52 am

Triangle Chiropractor Austin Texas, is a health facility that provides professional and empathetic treatment to its patients. No matter you are suffering from a pinched nerve or some muscle spasm, Chiropractors Austin Texas exactly know your treatment.

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